President Donald Trump signed an executive order on Thursday seeking to expand workers’ access to retirement plans.
“This afternoon, I’m thrilled to sign a historic Executive Order expanding access to high-quality retirement savings accounts for millions of Americans,” Trump said during remarks in the Oval Office. “I promised to make the same types of retirement accounts enjoyed by federal employees available to all Americans, so that’s what we’re doing.”
The order aims to help implement the retirement investment plan Trump unveiled during his State of the Union speech, when he said the federal government would match contributions up to $1,000 annually for eligible workers.
Trump’s latest action directed the Treasury Department to launch a website, TrumpIRA.gov, to help more workers claim the $1,000 government match. Workers without traditional retirement coverage will be able to access the website to enroll in private-sector retirement plans and receive the government’s match.
The Treasury Department will launch the website by January, when workers can start receiving the “saver’s match” from the government, due to legislation passed by Congress in 2022. Workers without 401(k)-type plans can use the website to filter private-sector retirement plans by factors such as cost, minimum contribution, and minimum balance. Treasury must publicize the match and issue guidance for private-sector donors who want to contribute to the workers’ IRAs, according to the order.
“Beginning at the start of next year, every American will be able to go to TrumpIRA.gov and open a new, low-cost IRA account,” Trump said during his press conference on Thursday. “You’ll then be able to access the same type of retirement accounts that federal employees enjoy … Promises made, promises kept.”
Trump previewed the move in February, when he told Congress that “half of all of working Americans” don’t have access to a retirement plan with matching contributions from an employer.
“To remedy this gross disparity, I’m announcing that next year, my administration will give these often-forgotten American workers — great people, the people that built our country — access to the same type of retirement plan offered to every federal worker,” the president said.
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The president’s “Trump accounts” bear some similarities to the matching contributions retirement plan coordinated through the new IRA site. Passed through Congress as part of Trump’s “One Big Beautiful Bill” last year, parents who set up the tax-deferred savings accounts can receive a one-time $1,000 contribution from the Treasury into the child’s account. The accounts apply to parents of children born between 2025 and 2028.
As of March 27, parents of over 4 million U.S. children had already claimed Trump accounts while filing their 2025 tax returns.